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DeepDAO, a web site aggregating information on decentralized autonomous organizations (DAOs), has raised $3 million for future enlargement in a spherical led by enterprise capital corporations Hypersphere and DFG.

An announcement asserts the “overwhelming demand for DeepDAO’s seed spherical exhibits sturdy curiosity in information merchandise for the DAO area and the idea the DAO ecosystem will develop.”

DeepDAO v1 at the moment gives information for greater than 100 DAOs, aggregating information on organizations’ treasuries, membership, and governance.

Based on the positioning, DAOs at the moment characterize more than 66,000 members and $587 million in property below administration (AUM) — though the AUM has fallen 46% from greater than $1 billion previously month amid the current crypto market downtrend. DAO treasuries are nonetheless up greater than 300% since early November nonetheless.

Talking to Cointelegraph, DeepDAO founder and CEO, Eyal Eithcowich, predicts the full AUM of DAOs will exceed $10 billion in AUM and characterize a couple of million customers by the tip of 2021. 

Founding advisor to DeepDAO and Bitfwd Capital chairman, Daniel Bar said the crew plans to develop information protection, combine DAOs from further networks, and launch new governance instruments utilizing the funds. Bar additionally famous the platform will provide an enhanced consumer expertise, together with social feeds and boards, stating:

“The decentralized governance area is creating at a breakneck velocity, DeepDAO is serving […] the DAO area by offering a one cease store the place governance may be tracked.”

“We’re dedicated to itemizing all these governance methods throughout a number of chains and platforms, discover and analyze them as one massive ecosystem, and supply social options and providers to allow a clear and lively neighborhood,” added Eithcowich.

Regardless of the speedy development of DAOs over the previous yr, Bar notes plenty of challenges going through the nascent sector, together with id, standardization, and a steep studying curve.

“Most individuals nonetheless consider DAOs as a nebulous idea, the ‘Aha second’ that DAOs are Web3’s social community didn’t click on to most individuals but. However it’s getting nearer,” Bar mentioned.

Hypersphere companion, Jack Platts, described the DeepDAO platform as making decentralized governance “simply accessible to everybody,” stating:

“Decentralized protocols are ruled by their customers, however to unlock the transparency and inclusivity we’d like top quality instruments.”